A call to businesses: respond to EFRBS opportunity

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A call to businesses: respond to EFRBS opportunity

Employers who operate Employee Financed Retirement Benefit Schemes (EFRBS) will be receiving letters from HM Revenue and Customs (HMRC) providing an opportunity to settle any outstanding liabilities. Based on Employee Benefits Trusts, in which trusts (usually offshore) are used to pay staff through tax-free loans, EFRBS are instead put towards employees’ pensions. Employers have until …

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Why is it harder for women to save for a pension than men?

‘Research suggests that only 50 per cent of women in their 30s work full-time, compared with 81 per cent of men of the same age.’ The juggling act of life is tough, and planning for your pension often gets side-tracked when financial pressure is applied from all angles. However, according to this year’s ‘Scottish Widows …

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10,000 and counting: New entrepreneurs receive the ‘get up and go’ from Start Up Loans

Since its launch earlier this year, the new-business aid scheme, Start Up Loans has recently celebrated the transaction of its 10,000th loan, which was awarded to Cornish entrepreneur, Allen Martin to help him initiate his new business providing online help for landlords. Start Up Loans, chaired by business mogul James Caan, has had a promising …

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1.6m say ‘I’m in’ to auto-enrolment

More than 1.6 million people have started saving for retirement under the government’s auto-enrolment initiative. The rollout of automatic enrolment of eligible employees into qualifying workplace pension schemes began on 1 October 2012 with the largest employers. All employers will be brought on board by 2018, giving up to 11 million people the chance to …

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Shake-up on way for insolvency rules

Businesses and individuals affected by insolvency are set to benefit from moves to bring insolvency rules into the 21st century. In a consultation document published on 26 September, the Insolvency Service proposes streamlining 24 different rules and regulations and harmonising processes, such as meetings of creditors, which apply across different insolvency procedures, to make them …

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Cable pledges crackdown on ‘rogue’ directors

Business Secretary Vince Cable has announced plans for reforms to make sure directors face “the strongest possible consequences” if they act improperly. Dr Cable said on 16 September that he planned to introduce legislation, before the current Parliament ended, to bring in proposals including: strengthening rules to give investors and creditors the confidence that rogue …

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